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an additional burden. >>> u.s. defense secretary leon panetta is urging congress to strike a deal before the end of the year. that's to avoid a fiscal cliff which may result in a significant reduction in defense spending. the fiscal cliff is a term used to illustrate drastic fiscal tightening if congress fails to reach an agreement by year's end. such a situation is feared to trigger a plunge in the economy. panetta warned that defense spending will be subject to drastic cuts if lawmakers failed to reach a consensus. >> the worst thing that could happen from my perspective is that they just kick the can down the road. all that would wind up doing is continuing to present a shadow over the defense department and for that matter, the rest of government. >> the defense department is already planning to reduce its budget by about $500 billion over the coming ten years. panetta has voiced concern that further cuts could undermine barack obama's new defense strategy that lays more emphasis on the asia pacific region. >>> japanese officials are scratching their heads about how to deal with sluggish tra
to vote on thursday or friday. >> it is not an easy sell for the defense of the idea of letting greece buy back its bonds at below market value. >> it is important to be fair and say that other eurozone countries should not be profitable. greece needs this. >> german chancellor angela merkel and her finance minister can count on the majority in parliament to support the plan, even though many lawmakers still had questions when they were being briefed. opposition parties have not yet laid down their position, but in the past, they have signaled that they will support continuing aid for greece, but the social democrats, germany's largest opposition party, wants more information. >> it is too early to determine what impact tonight's decision will have on the german budget. we have also not yet calculated what the consequences would be for the future of greek debt. >> as far as the opposition is concerned, a hair cut for greece is not off the table yet. if anything, it is being postponed until after the election. >> the prospect that german taxpayers will be left holding the bag on greece is n
than we were. the growth in spending has not been in the non-defense discretionary. the cost of security programs in that same time period has gone up 60%. the cost of mandatory programs is up 30%. i want to call your attention to one aspect progressives need to remind people. of the $1.50 trillion already in spending cuts, $900 billion comes from spending. we have given far more than when it comes to defense side. let's talk about those for a minute. the budget control act and sequestration would result in dramatic cuts to spending. we have heard a lot of talk about the impact it will have on our national defense. to believe that having ended one war in iraq and ending another in afghanistan that we cannot find savings in the pentagon, i do not think that is a fair assessment. there are savings to be had that will not compromise our national security. the simpson-bowles commission approach established in the outer years to lay the temptation to go back into the non-defense accounts when too much political pressure keeps you out of defense spending. i would hope any long-term
it again. the defense department's five biggest contractors have been raising cash holdings by a whopping 70% in the last quarter. should they be this worried? we're going to speak with a couple of defense analysts in the back half of the program. >> also, do house speaker john boehner's constituents think he's doing enough to avert the looming crisis? we're going to hear from chief washington correspondent john harwood who is just back from a trip from his home state of ohio. >>> up next, though, fallout from last week's autonomy mess mounteding. hewlett-packard's ceo and former hp head all sued by a shareholder for alleged fraud. it's getting ugly out there. we're going to speak with a lawyer gearing up to represent other hp plaintiffs when we come back. [ male announcer ] if you suffer from heartburn 2 or more days a week, why use temporary treatments when you can prevent the acid that's causing it with prevacid24hr. with one pill prevacid24hr works at the source to prevent the acid that causes frequent heartburn all day and all night. and with new prevacid24hr perks, you can earn rewa
gathering. [laughter] i know many of you and your friends and neighbors are recovering from the defense of hurricane sandy -- i want to let you know our thoughts are with everyone who has suffered during the storm and its aftermath. it has been a very challenging time for new york city. i think you have shown quite a bit of fortitude in coming back and getting back to business. my remarks today are going to focus on the reasons for the disappointingly slow pace of economic recovery in the united states, and the policy actions that have been taken by the federal open market committee to support the economy. in addition, i will discuss important economic challenges our country faces as we close out 2012 and move into 2013, in particular the challenge of putting federal government finances on a sustainable path and the longer run while avoiding actions that would endanger the economic recovery in the near term. the economy is continuing to recover from the financial crisis and recession, but the pace of the recovery has been slower than fomc participants and others had hoped or anticipated
that i have observed that works and is helpful for the department of the defense. talking about a strategy, a broader view, and then through the report get into the details. in the congress, we have all these different committees that claimed some part of the jurisdiction. i had a simple solution. pete, we need some energy legislation and leadership. good luck. every now and then, i would get into his territory and he would teach me a lesson about how far i could get into energy policy because he would come to me and say we have to do this differently. one of the questions i know people will ask -- why are you doing it now? the obama administration will have an opportunity to look at these proposals in november and december and hopefully decide to take advantage of them and use them next year. also i am hopeful and will recommend that this not just be administrative action. congress should implement this, too. beyond that, we will have the proper recommendations with regard to other issues of security, jobs, efficiencies, innovation. this is such an important part of our economy
alliance losing seats. the nationalist party did win a majority overall. >> the israeli defense minister is planning to retire from politics. he says he will quit his post once the new government is formed after the elections in january. many political observers are expecting him to change political parties. >> israel has taken a step towards expanding its missile defense. existing systems down. hundreds of hamas rockets during the recent violence and now they have successfully tested a new weapon against medium-range domiciles. israel hopes will be ready by 2014. -- medium-range missiles. thousands of angry workers in bangladesh have been protesting after ianother fire after the worst ever factory blaze. >> eclipsed the focus on note the working conditions. have forced the closure of the other factories and lay the area. to many of those responsible, they want them to be punished. >> firefighters could not contain this blaze, so the workers pitched in to help. together, they managed to put out the fire. it was the second factory fire outside of the capital in days. this time, no one was
, there is no near-term risk factored in, and that makes me very nervous. we are being very defensive, given that risk is still out there. i wouldn't be shocked to see 5%, 10%, if we went off the cliff on the s&p. that wouldn't be a big surprise to me. put it into perspective, last august when we had the debt ceiling and a downgrade, we saw a much bigger fall in the stock market then. >> susie: you say you're uncomfortable with this kind of uncertainty. how are you positioning the portfolios for your investors? you said you're defensive. tell us more. >> so into the u.s. election, especially given that the polls were leaning towards obama, we had taken a defensive stance already. we had gone slightly underweight equities, and added more things like high-yield mortgage debt, emerging market debt, and mortgage-backed securities, that will yield as much as capital appreciation, and investments that have lower volatility than the stock market. so we have an overweight there. those investments i just spoke about, that's about 24% of our portfolio right now, and that's definitely helped us get thr
demonstrate a willingness to pay for our national defense, rather than put it on the credit bar? mr. speaker, let's get on with the big national debate and finally focus on jobs and getting the economy going as we reduce our long-term deficit. thank you, mr. speaker. with that, i reserve the balance of my time. >> the jaume and from wisconsin. -- the gentleman from wisconsin. the gentleman from wisconsin reserves the balance of this time. the gentleman from maryland. >> i yield one minute to the gentle lady from wisconsin. >> thank you so much for yielding. so many of my colleagues have said that it was necessary to storm the white house and take the country hostage in the name of their grandchildren. i wanted to go on record talking about what i want from my grandchildren. i want head starts for my grandchildren. i want to early childhood education. i want my kids to go to a school where they can participate in the science fair. i want immunizations for them. i want research done for food safety to make sure this chicken nuggets are safe. i want clean air and clean water for them. i want jo
? >> the jeep ad. that was the biggest one. they spent the last 14 days of the election on the defense. day after day they had to answer for that. it put them on the defense for a long time because it was not true. >> the flip side of that, you put the events back in spring, defining him. a lot of regret among republicans about how early you define him. the kind of campaign -- why was that a brilliant insight? >> at the time it was risky because of super pacs. we were going to spend a majority of our money in the summer and not of the fall. we were going to get out spend because we believed that late tv did not matter as much. it turns out we were right. >> based on what you know about the nation's mood and geography, everything you learned, what republican candidate would have had the best shot? >> that is a good question. we were honest about our concerns about jon huntsman. i think he would have been a tough general election candidate. as someone who helped manage his confirmation, he is a good guy. we looked at his profile and thought he would have been difficult. >> and you thought by
billion of that is out of national defense and $30 billion of that at the domestic discretionary -- $50 billion of that is out of national defense and $50 billion of that is domestic discretionary. will the republicans keep obama on a short leash and give him an allowance every month in return for better behavior or will they give him a debt ceiling that goes along time? what will happen? one option is looked to history. two years ago we faced exactly this situation, the 2001 2003 tax cuts all lapsed. we had a republican house coming in, and democratic senate and democratic president. why would that not the way you do? obama says i will hold my breath until i turn blue and stamp my feet. 2 years ago he said he did not want to raise taxes on small businesses because it would damage the economy. now he thinks this economy is stronger than it was two years ago and we are in better shape to take the economic hit. it is an interesting question. if you go over the tax cliff and taxes are raised dramatically, the house would have our past -- will already have passed. on the sequester, i though
leaders saying? >>reporter: most defense officials assume there will be one more fighting season next year in afghanistan going in the spring and going through next fall. general allen the top u.s. commander in afghanistan reportedly wants to keep 60,000 troops through the fighting season, most of the troops who are already there. there are indications that he will recommend that the united states also keep 0,000 troops after 2014 including 1,000 special operators to keep a lid on things. this is how defense secretary panetta recently described his vision. >> afghans will be in the lead throughout the country on security until 2013 and africans will take full responsibility for security by the end of 2014. >>reporter: the final decision is up to president obama and defense secretary panetta will speak with general allen about what they will recommend to the president. >>shepard: after that, we have to know what the afghans want, right? >>reporter: that is right. a key point is that the state department has just started negotiating status of forces agreement, what we remember as the sofa ag
can legally marry. marriage is usually a state law matter but under the federal defense of marriage act, a law passed in 1996, the federal government does not recognize those marriages. in that situation, a gay couple who is legally married in boston, cannot file a joint tax return. they cannot get benefits under social security for their spouse like another merit couple would. a series of lawsuits have been filed a federal appeals court in boston and new york ruled tartabull law is unconstitutional. it denies gays and lesbians equal protection under the law. they are legally married. the court said they deserve the same legal rights. the obama administration would not defend that law. the house republicans appointed john clement. many of those cases are under appeal and they will surely decide one of those cases this spring host: is there one more likely than the other? guest: that is an inside baseball question. the problem that arose is that elena kagan was the solicitor general when some of those cases were beginning and she mentioned at her confirmation hearings that she had pa
sorts of the parts of the earth we spent a trillion on basically on welfare that is more than defense and medicare combined. but we are talking about illegal immigrants that are given food stamps and they are not entitled to medicaid or medicare or social security. it is a food stamp program and set up with whether mexico is pulling up their fair share. >> and john, you go to the web site. anybody can go to the web site. welcome to america web site this is it just a page from it government ben fets and welcome to america here are the benefits and here are the freebeies. and depending on your immigration status and length of time in the u.s., you may be eligible for federal benefit programs and it goes through a long lit any and it is long and a lot of money. >> it is unfortunate. immigrants are treasures the arrival of each one makes us more american because it signifies. >> if they are here to work. >> absolutely. it is it the last thing you want to do is offer them hand out to come here. that insures that you get a lower quality person coming here. we want to attract those who want
defense system. it shot down hundreds of missiles fired from gaza. today, the missile interceptor is meant to stop mid range missiles up to 180 miles, the next stage in what israel calls a multi layer missile defense. >> and new york mayor announcing a federal grant to hire unemployed people for clean up efforts after the storm expected to put 5,000 new yorkers to work, also announcing the state is partnering with fema to replace fema workers with new yorkers. now back to "countdown to dooms day". sday. >> bill: december 21, 2012 is the winter solstice what some people call doomsday. six months before it was the summer solstice and thousands of yoga lovers were celebrating in new york city's time square. it was literally a far stretch from doomsdayers. >> there is nothing to suggest that gigantic floods and earthquakes will destroy our world. >> there are prophesy that has say the world is going to end. >> i think what we're dealing with is denial of our own deaths. >> this obscure relic monument 6 is the focus of the mayan countdown to doomsday. worn and this strange thing translated the
would be going with some of your defensive type companies, what i'm talking about is astrazeneca, azn the symbol, a big drug company in the u.k. people are worried they are going to run out of product. we don't think so. that thing yields north of 5%, liz. liz: 6.15% for astrazeneca. you are just making a ton of income there. >> we think the dividend is well protected. secondly is glaxosmithkline, gsk, another u.k. drug company. we're sticking with defensive type stocks within europe. and we are down playing the financials. liz: glaxo which is off its highs versus astrazeneca which is around its highs? >> i think you might want to buy stocks that have eased off a little bit. any stock weakness that happens between now and year end, then we would accumulate. liz: you also talk about global gorillas. >> these companies with global footprints, brands, been in business for 150, 170 years. companies like procter & gamble 175 years old. you have got heinz ketchup, you have companies that have been -- they are found in your pantry and on our medicine cabinet. these are -- liz: coca-cola, all
tenure as director of the c.i.a. and secretary of defense, i have truly been privileged to meet and work with thousands of professionals who have made this fight their fight, who have put their lives on the line for their country and who have built the most effective global counterterrorism network the world has ever seen. their work, i believe, has made the american people safer. the united states more secure. and has put al qaeda on the defensive. let me describe some of the progress that has been achieved in this fight against al qaeda. first of all, with respect to core al qaeda in afghanistan and pakistan, and that's where the leadership of al qaeda after 9/11 found refuge. our military forces, our intelligence professionals, our diplomats, our development experts have taken the fight to al qaeda's leadership. first through dramatically expanded counterterrorism operations on the afghanistan-pakistan border. and second, through a renewed, revitalized and properly resourced effort to help build an afghanistan that can secure and govern itself. and that's the fundamental mission in af
the question has the defense and intelligence community accurately forecasted their 10-year, 15-year need for spectrum, and are we making decisions about reallocating that to the private sector in the context of the potential real need that these communities might have for it as, you know, they become more connected, they pick up mobile, you know, drone connectivity, network-centric warfare? have they predicted their needs before we make decision about reallocating that? >> well, so just some facts. in the u.s. the government -- military and otherwise -- has primary access to about 60% of the spectrum, and commercial industries have access to about 40%. when you think about the numbers and compare the number of devices used by government versus commercial, it's not even close. >> yeah. >> and so it's hard not to rook at it and think -- not to look at it and think this is out of whack even taking the most aggressive projections on what government users will need. and, in fact, there really isn't a lot of disagreement that on the government side -- this is true on the commercial side, too,
by the department of defense, it's now a not for profit called helmets to hard hats. and what it basically does, it identifies 60,000 american businesses and some of the trade unions. they collaborate to get together, to identify veterans who have already had extraordinary training and discipline and leadership and teamwork and it accelerates the apprenticeship program. so these individuals could be making $60,000, $70,000 a year if there was work to be had here. so it's an investment in america, it's an investment in american businesses, and it says to our returning veterans in a real sincere and genuine way, thank you for your service. mr. garamendi: you said earlier that the american society of engineers, i think that was the name, said that we have a d rating for infrastructure and that we need over $2 trillion. i don't know anybody in my district where we may have a serious flood in the next three days that says the infrastructure is adequate. they're look at those levinees and they're watching the water rise and they're saying, this isn't sufficient to protect us. so in a very real sense
helps us in defense issues and other things, and we're not doing that now. part -- >> easiest place for public support for america for the agenda. >> that's the way to do it. >> get it right -- >> what would that be compromised of? >> negotiate the first tread agreement in over four years. president obama's the first president not to negotiate a trade agreement. >> no, no, those were gorgeted -- >> well -- >> negotiated by the previous administration, got through, and bottom line is we have an opportunity right now, in europe and asia, to knock down barriers, non-tariff barriers, overwhelming support from the republicans for thatment i think it would have been tougher in the first time. i understand the terms in the democratic party, but it's a time to move op from that. the only point i disagree with michael a little bit is we have the problems that you just mentioned. europe and japan have them much worse than we. we need to help our current largest trading partners get it right by knocking down barriers so we can all engage china and the other emerging markets in a way that serve
have a devastating affect on national security. it would dramatically undercut our defense. some of the programs are the great investment programs of the future. energy, etc.. i really hope congress will redeem our homes by dealing with the entitlement reform. the center of local, and i in june introduced a proposal that would take steps to save medicare for the almost 70 million people who will be on medicare in one decade. and reduce the enormous costs of places on our task there. people think the payroll reductions and the premiums they pay pay the total benefits of medicare. it is not so. the average in our lifetime takes $3 out of the system for every dollar they put in. you just cannot run a program long term like that. who picks up the rest? the taxpayers. it is a big part of why we are getting into a deficit. you cannot save medicare by leaving it as it is. you can only save medicare, and i want to, i believe in the program. the senator and i put in a plan that would save over $600 billion in medicare costs over the next dent it -- over the next decade, and reduce medicar
to mark hurd's defense so quickly? >> what a spectacular job he did over that five-year period at hp. you can look at the results. it's a little like looking at the apple results. hp without mark hurd, hp with mark hurd, hp without mark hurd. >> and the stock just kept going lower there. >> it did. what a story. only two years, bill. so is larry ellison right? did it all go wrong since mark hurd was forced out? herb, you say the company did take a turn for the worst after mark hurd left. he was a better salesperson and better at execution. is that what you're saying? >> shaw. >> no, we think so. at the end of the day, they are selling commodity products, but there's nothing wrong with that. you just have to be run well. if you look at since then, they haven't been run well. we think that's an issue. also, having a strong sales force, strong personality in terms of convincing your own employees, this terms of convincing customers, we think those are things that are no longer there. we think, frankly, have made life difficult for hp. >> herb, you disagree. you think the company's problems w
to watch defense spending get gouged. [ scream ] >> stephanie: if republicans captain see their way toward additional revenues then we're better off going over the cliff and readdressing this with a better congress in january. >> it's the republicans holding the country hostage. >> they're saying it's more of a slope where the economic effects will be handled gradually. we're going to have a whole new congress. >> more democrats. >> we have the technology. we can make them better. >> stephanie: we built that. >> yes we did. we gave it a bionic eye apparently. >> stephanie: right. patty will have to move her hair to hear you. >> you said what now, mitt romney's plan? no. no. [ laughter ] >> stephanie: what kind of budget geeks, we just have that sound effect. >> it's come in handy more often than not. >> stephanie: i go like this and you do that. >> that was the bionic man effect. >> stephanie: hers is like ding-ding-ding, like sonar. [ dinging ] >> republicans would most likely bear the public blame if policy makers deadlock. only 29% would blame the president. it's very important that we
're given time to get used to it. let's talk about defense cuts. this, too, is an area, as mr. bowles says, we spend more on defense then the next 16, 17 countries combined. what defense program would you be willing to see cut. i know there are sensitive issues in your state about the nuclear arsenal there, even some transport planes that the air force would say we can do without but you support? what would you see cut there? >> i think we can look at some of our overseas bases and some of those kinds of things. i think there are areas we can find savings. but remember under the budget control act we've already reduced spending on the military by half a trillion dollars which is why i don't see the sequestration. i think we can find savings in a good, solid, sound prudent way but let's prioritize, whether it is the military or anything else. again we've already made a commitment to reductions in the military through the budget control act. >> let's talk a little bit about revenues. one of the guys lo's at the heart of this whole debate is a man named grover norquist. did you sign the grove
is putting aside 37 billion euro to cut the national debt. defense will be the third largest recipient. the german opposition and parties are not impressed. they said they should have prevented a budget that did not put them further into the red. >> you have failed in your task. instead of giving lectures in europe, and should have done your job in germany and brought the debt down to zero. you failed. >> the opposition's is taking on fresh a debt is risky with the eurozone in the middle of a crisis. german lawmakers will again be turning our attention to the crisis later this week when they will debate sending more money. >> in soccer, the chair believes game including beirut- munich. -- bayern - munich. >> and one player is getting a lot of attention. >> they paid 40 million euro for him, the most in the history of the league. they now expect him to perform. he knows it will be a tough match. >> i know valencias going to be on the attack. the fans are here right behind your team. it's not going to be easy -- that's for sure. >> valencia also has a player with a good feel for his oppo
be a grave mistake if we were to refuse defensive support to a fellow nato country at a time when that country sees itself as being attacked from outside by a neighbor. >> patriot missiles can shoot down aircraft as well as incoming missiles. the u.s., the netherlands, and germany are the only nato countries which have the most recent versions of the technology, which means any deployment could see german soldiers stationed on turkey's border with syria. experts expect about 170 troops to be deployed. the government has already signaled its intent. >> we are waiting. that is the message from greece after another delay in its latest bailout payments. >> the greek prime minister says there's no justification for that delay. he has been voicing frustration after eurozone finance ministers failed to greenlight the payment despite 11 hours of overnight talks in brussels. >> they will give it another shot next monday. ordinary greeks are wondering when the uncertainty will finally end. >> the mood was somber on the streets of greek cities as people that just the bad news from brussels -
order? >> there are reports now of morsi discussing the situation with the ministers of defense and the interior. the headquarters of the party of the muslim brotherhood was stormed and set on fire. while we are speaking, there are also clashes going on in the vicinity of the ministry of interior. the situation becomes more violent and more serious. >> are we looking at the end of the national solidarity we saw during the anti-mubarak uprising? i was seeing an end of the solidarity we saw between all sections of society? >> we have a very polarized situation. we have part of the population going onto the street now calling morsi the new dictator, saying he has more power than mubarak had. [inaudible] saying the country is basically stuck for several months. nothing is happening politically, economically paralyzed, so may be it is a good idea for morsi -- maybe it is a good idea for morsi to take power and move the country forward. >> thanks for that update. a palestinian man is dead after being shot by israeli soldiers as he approached the security wall at the gaza border. >> it
talk shows leading democrats are coming to her defense saying she relied on the best available information provided by the u.s. intelligence community. >> if this were an nfl football game the critic it is of ambassador rise would be penalized for piling on. for goodness sakes she got the report from the intelligence committee. she duty at this any reported to the public, exactly what we expect her to do. >> reporter: fox news learned that the house foreign affairs committee is seeking a cable warning the consulate could not sustain a coordinated attack and that the staff considered suspending operations in benghazi. mission personnel could go locate to the annex cia outpost if the environment degraded suddenly. there were agreement to formal weekly meetings to the discuss the security environment. in the longer term wee, believe the formal colocation with the annex will greatly improve the situation. state department pending their own internal investigation which we now expect to be completed by the middle of december, jon. jon: lots of questions left to answer. catherine herr
to get good numbers. >> host: let's show some have stats from the defense department on u.s. military personnel deployment. obviously the united states and its territories have the most at 1.2 million afghanistan with the ongoing actions there, 66,000 troops. talk about the next two, germany and japan, why we need 53,000 troops in germany and 39,000 troops still in japan these days? >> guest: we don't. that's a simple answer. they should be brought home. >> host: what is their mission there right now? >> guest: their mission is left over from the cold war. these were troops that were placed there to prevent a soviet attack on eastern europe. there is no more tzipi at union and there is no more cold war. we don't face that kind of threat. in japan we are being told that they are there to prevent north korea from attacking. but there is also a think about 30,000 troops in south korea so why do we need all those troops in japan? right now i think we will be hearing a lot about troops in japan because we will hear from president obama about this notion of a pivot towards asia, which -- >>
. the leadership there, defense minister ehud barack. is he now quitting. he says he is going to spend more time with his family. his resignation will take effect in january. that's where fred is following the story from jerusalem. first of all, fred, it's kind of funny to hear him say that because everybody it is that, want to spend more time with the family. is there a back story to this, or is that the real deal? >> reporter: is terminal seems as though there is one. it is definitely a shocker here in israel. of course, ehud barack has been part of public life here for decades. he was the prime minister and now for the past seven and a half years was the defense minister. a very prominent person. also, of course, a big military figure here in this country. he says for his part that it is, as you say, for personal reasons. he wants to spend more time with his family. especially his grandchildren. there are many people here in this country who believe that it is, indeed, for political reasons. he is currently really riding a high in public opinion polls after the military campaign that israel w
to the defense sector. defense contractors will lose. it's not just big companies, boeings and lockheeds most defense work in the united states is done by independent companies so there are small company, software companies, provides that provide do the defense industry, small businesses that will get hit. the estimate the average family will pay up to $3500 more in taxes. that's if the worst happens. bottom line, what it will do, suzanne, it will reduce gdp, economic growth, that's stuff that creates jobs and slow the economy down to we'reoo sensitive to being slowed down. >> explain now the debt ceiling plays in the talks. >> the debt ceiling will run out january, maybe early february, depending on how the treasury moves things around. last time they were able to move payments around so they didn't miss anything. that's part of this. it's not part of the fiscal cliff, but it's an area that the republicans feel very strongly about. they're use it as leverage. john boehner said as much to the president. people say the debt ceiling thing is an albatross. most countries don't have a debt limit.
treasury secretary geithner and even defense secretary leon panetta has made it clear he would like to leave within the year. the current white house chief of staff still considered the odds on favorite to get the nod to become the next treasury secretary from the president. it's believed he has the greatest chance here it's believed of getting senate confirmation. that leaves open the job of white house chief of staff. and i'm hearing that among the names that are being considered for that role are ron clay, the man once biden's chief of staff and did himself i'm told a great service in president obama's debate prep despite that bad first debate the president takes responsibility for it, does not blame mr. clain. and another name i've heard floated is dennis mcdunna. earned the great respect and admiration of the president. a young man not often considered in that light but the president admires him. but that of course leaves open the question who would take over for secretary clinton and for leon panetta. and those are some dicey questions right now given what dana has just report
border with syria. >> the it turn kish government stressed the tee employment will be defensive only. and that it will in no way support a no-fly zone or any offensive operation. >> the situation is detearer be rapidly as rebels continue to battle government forces. so still to come on the show, as tensions simmer between china and japan, our panel exams if asia's top economies can still do business despite national list tick further at home. >>> hsbc's flash pmi shows china's packer to activity expanding above the key 50 level for the first time in more than a year. stocks in shanghai fall on fears they may rein in on stimulus. and no sign of compromise as eu leaders begin arriving in brussels for what could turn into four days of budget talks. david cameron iterating his criticism of increasing the bloc's spending. palestinians pour into the streets as eight days of strikes end between israel and hamas. this is a thanksgiving day holiday. so happy thanksgiving if you celebrate it. slim gains yesterday. ibex up 0.8%. we are focusing on spain in the next 15 minutes. we have spain tap
association of people with disabilities, the disability rights education and defense fund, and the national disability rights network. in addition, it is supported by 21 different veterans groups including the wounded warrior project, the american legion, disabled american veterans and veterans of foreign war. president george h.w. bush, who signed the americans with disabilities act into law, has called for ratification of this treaty. there's been no more passionate advocate -- and in i'm so honord that he would consider devoting his energies and good name to our effort -- for ratification of the treaty than senator bob dole, a lifelong advocate for disability rights. we need to pass this in a tribute to bob dole, for his life of service to the state of kansas and to the nation as well as his heroic efforts on behalf of the disabled in the united states senate. these people have come together to support ratification of the treaty because they know it's critical for those living with disabilities in the united states and around the world. thanks to the a.d.a. and similar larks the united s
this his defense secretary gates, general petraeus, general crystal, were all against the drawdown in iraq. i have a feeling that he has a certain kind of discipline that is going to make him cautious about doing that kind of escalation. >> i think the first term with the exception of the afghan surge would totally support that. >> right. >> i think that -- >> and there as you know what happens is the generals kind of outfox him by leaking to the media that they have made a recommendation -- >> and i think historically the that's the wing thing in the first term in terms of foreign policy that's going to be problematic so far for him. otherwise, i think unsentimental is a wonderful term for him. i think the drone campaign, i think the steady shift from counterinsurgency to counterterror in afghanistan is hugely important. i think, you know, his approach -- you and i have talked about this before. his approach to iran, which the right wing in merge wants to see as soft, i just -- my sense of him as a person and also based on what he's done on the war on terror is i wouldn't cross him. there
and choppiness of it, think about how you can maybe shift your portfolio and be more defensive. >> so, give me -- is that one of the reasons why perhaps utilities are bouncing recently, because people are looking for that safety and also the yields, of course? >> exactly. you look at the dividend yield, utilities or tell come, clearly with interest rates this low where are investors going? utilities, telecom, into mlps, high yield emerging market debt, all these areas will continue to be in a bid. what i think of from a sector allocation standpoint, what i think the next month and a half in the markets, i think of the lower beta areas, utilities and telecom one of them. >> what would you stay away from? >> i luook what is going on in europe, see big steps in that right direction. >> >> bob pisani loved the greece deal. >> a great deal. i like the idea of going to the troy ka and ask them to reinnocent mortgage. >> how much of a typical portfolio do you think you would allocate into high-yield asset? >> ultimately depends on the individual investors and how they view sort of risk and what their
people are flas flat on those promotions. it is a defensive holiday season. last year 5.6, it is still positive. i think it will be up 3%, 4%, so that is very healthy. melissa: it is so tough to understand. >> what i would say is those of the upper income level probably a little bit more comfortable, perhaps the past couple of years they have not spent the full capacity of the ability to spend. missing the upper income levels luxury, higher-end, as well as the affordable luxuries, little bit more spending happening. melissa: using the increase is driven at people who have the most money? we are about to raise taxes on them. >> so long as we don't know what is happening. there is this notion of there is a big fashion trend. never underestimate the female needed to buy or update the wardrobe. melissa: interesting. it may kill christmas. kind of my take away, but it does not matter. thank you for joining us. an update on a story charlie gasparino told you about more than a month ago. as the chairman mary shapiro has made it official calling it quits after nearly four years in office. shap
for having to excuse myself, whether you all got into the defense budget. so here is what no one wants to talk about. the defense budget is that about $800 billion a year. the united states commitment to the military budget is greater than the military budget of the next 10 highest military spending nations combined. those 10 nations together -- together spend about 50 -- 450 billion. we spent 800 billion. now here is the trick. our money is heavily invested in sophisticated military hardware. very sophisticated pieces of equipment, which truthfully impact our domestic economy. but the truth of the matter is the discussion about budgets from having put many, many budgets together is not a discussion just about money. it is a discussion about priorities and values. and we have to determine, you know, to me when you talk about what the deal is to be made, to sequester includes deep cuts in the military. and many on the right and mini and communities with error bars, military contractors that employ a lot of people will art in to avoid this military cuts. what we have to say is the nation
's all right. i already feel the glow of san francisco's progressive approach to things. and in defense to the other counties, i think that, you know, that's the challenge we always face with legislation, should one size fit all? and i think that the whole purpose of the realignment approach was to allow individual counties to experiment with programs in dealing with individuals who are charged with crimes, either providing treatment a
, they very ably defended themselves against overwhelming numbers with a very skillful defense down to virginia. it would be kind of a balance put it. [applause] >> thank you. >> this is a little bit politically incorrect, but i was wondering about the actions of sheridan and what are considered war crimes now. >> war crimes? well, certainly what they did on the great plains would be war crimes. what they did in georgia in the shenandoah valley, i'm not so sure. they tried to save civilian lives. the purpose was to destroy resources and their ability to wage war. i think that would be arguable. but certainly a very good point. [applause] >> every weekend, booktv offers programming focus on nonfiction authors and books. watch it here on c-span2. >> i want to talk to you today about my book. strom thurmond's america. i want to begin by telling you a story. now, when you go and do research in south carolina, and you go into the archives and people ask what you're interested in writing about, and you tell them strom thurmond, they say oh, let me tell you my story about strom thurmond.
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